Several companies in Israel and the United Arab Emirates have signed deals together in recent weeks, bolstering optimism about the corporate benefits stemming from last year’s normalisation of relations between the Jewish state and the Gulf monarchy.

Government-to-government deals and the emergence of private sector collaboration has assuaged previous concerns that the so-called Abraham Accords, which Israel signed with the UAE and Bahrain in September last year, were slow to generate tangible economic activity.

Jordan, Israel and the UAE in November agreed to build renewable electricity and water desalination plants, seeking to boost energy and water security across the Jordan River. The plan includes solar plants generating 600 megawatts in Jordan for export to Israel, with Israel building water desalination plants to export 200m cubic meters of water to Jordan.